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SeaBird Exploration Plc: Bondholders' meeting held, amendments approved

September 2, 2014

2 September 2014, Limassol, Cyprus Reference is made to stock exchange notices of 19 August 2014 regarding the proposed amendments (the "Proposal") to amend the SBX03 loan agreement (ISIN 001 0633118) to permit an extended financial indebtedness of the Company, allowing a lease extension concerning M/V Hawk Explorer. The bondholders' meeting has now been completed, and the Proposal approved by the bondholders as proposed by the Company and further described in the summons. SeaBird is a global provider of marine acquisition for 2D/3D and 4D seismic data, and associated products and services to the oil and gas industry. SeaBird specializes in high quality operations within the high end of the source vessel and 2D market, as well as in the shallow/deep water 2D/3D and 4D market. Main focus for the company is proprietary seismic surveys (contract seismic). Main success criteria for the company are an unrelenting focus on Health, Safety, Security, Environment and Quality (HSSEQ), combined with efficient collection of high quality seismic data. All statements in this press release other than statements of historical fact are forward-looking statements and are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include SeaBird`s reliance on a cyclical industry and the utilization of the company's vessels. Actual results may differ substantially from those expected or projected in the forward-looking statements. For further queries contact: Dag Reynolds CEO SeaBird Exploration Phone: +47 90883737 Nils Haugestad CFO SeaBird Exploration Phone: +971 4 427 1700 This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: SeaBird Exploration Plc via GlobeNewswire [HUG#1852961]


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